General Mills, Inc. (GIS: chart) of Minneapolis, Minnesota, announced before the bell Wednesday a 24% increase in its quarterly earnings, as stronger sales helped offset rising commodity costs. The food company reported net income of $278 million, or 72 cents per share, for the fourth quarter of fiscal 2004, compared with net income of $225 million, or 59 cents per share, in the 2003 corresponding quarter. Excluding items, earnings came to 74 cents per share in the quarter ended May 30, up from 64 cents per share, a year ago, and 2 cents per share ahead of the mean estimate of analysts. Sales in the quarter climbed 10% to $2.79 billion from $2.55 billion, in 2003. For all of 2004, General Mills turned in a profit of $1.06 billion, or $2.75 per share, up 15% from $917 million, or $2.43 per share, in fiscal year 2003. Annual sales improved 5% to $11.07 billion from $10.5 billion.

For 2005, the company forecast earnings of $2.75 to $2.80 a share.

Company shares rose 3.06% to $47.53 at market close Wednesday.

Constellation Brands, Inc. (STZ: chart) posted after market close Wednesday quarterly profits that jumped 31% from last year, aided by higher sales. The Fairport, New York-based producer of beverage alcohol brands announced income of $51.3 million, or 45 cents a share, for its fiscal first quarter, up from $39.2 million, or 41 cents a share, generated a year ago. Quarterly revenues were up 20% to $927.3 million from $772.8 million, a year earlier, on increases in beer prices.

The stock inched up 8 cents to close Wednesday at $37.13. Company shares rose 1.48% to $37.68 in after-market trade.

Freddie Mac (FRE: chart) said before the bell Wednesday that its 2003 full-year net earnings tumbled 52% to $4.9 billion, or $6.79 a share, from net earnings of $10.1 billion, or $14.18 a share, in 2002. The McLean, Virginia-based mortgage finance provider cited a decline in non-interest income as main factor for the profit drop. The report was delayed due to accounting problems. The consensus estimate of analysts was for a profit of $5.90 per share.

Company shares closed Wednesday up 11 cents, or 0.17%, at $63.30. The stock dropped 30 cents to $63.00 in after-hours trading.

Monsanto Company (MON: chart) of St. Louis, Missouri, reported Wednesday a profit of $252 million, or 93 cents a share, for its fiscal third quarter of 2004, a 45% rise from a profit of $174 million, or 66 cents a share, in the 2003 equivalent. The agriculture biotechnology company attributed the results to strong demand for its Roundup herbicide and specialty seeds. Analysts had called for third-quarter earnings of 85 cents a share, on average. Quarterly sales advanced to $1.68 billion from $1.47 billion, a year ago.

The stock gained $1.30 on Wednesday to $38.50.

Merix Corporation (MERX: chart) said Wednesday that it narrowed its quarterly loss, citing a huge rise in sales as main contributor for the improvement. The Forest Grove, Oregon-based manufacturer of electronic-interconnect solutions for use in sophisticated electronic equipment posted a fourth-quarter net loss of $1.6 million, or 8 cents per share, compared with a loss of $20.3 million, or $1.39 per share, in the 2003 comparable period. Excluding items, Merix had a loss of 5 cents a share in the quarter, against a prior-year loss of 25 cents a share. Fourth-quarter sales surged 97.5% to $44.5 million from $22.5 million, last year.

Merix shares shed 10 cents to close Wednesday at $11.34. The stock plunged 9.61% to $10.25 in the extended session.

EXFO Electro-Optical Engineering Inc. (EXFO: chart) of Quebec City, Canada, said Tuesday that it narrowed its third-quarter net loss to $1.2 million, or 2 cents a share, from a net loss of $38.4 million, or 61 cents a share, in the 2003 corresponding quarter. The maker of fiber-optic test systems attributed the results to strong demand for its products. Quarterly sales surged 35.4% to $20.5 million from $15.1 million, last year.

The stock rose 3.43% to $5.13 at market close Tuesday. EXFO shares added 17 cents to $5.30 in after-market trade.

Electro Scientific Industries, Inc. (ESIO: chart) announced Tuesday that it swung to a quarterly profit from a prior-year loss, driven by surging sales. The Portland, Oregon-based provider of manufacturing and test equipment turned in a net profit of $16.2 million, or 54 cents per share, for its fiscal fourth quarter, a turnaround from a loss of $20.8 million or 75 cents per share, in the 2003 equivalent. Sales in the quarter leapt to $81.8 million from $22.5 million, a year ago.

ESI shares edged up 62 cents to close Tuesday at $24.00. The stock was catapulted up 22.50% to $29.40 in the extended session.

AAR CORP. (AIR: chart) of Wood Dale, Illinois, reported Tuesday fourth-quarter net income of $2.6 million, or 8 cents a share, rebounding from a year-earlier net loss of $7.5 million, or 24 cents a share. Analysts had expected the provider of products and services for the aviation industry to earn 7 cents a share in the quarter. Sales rose to $179.2 million from $145.1 million. The company credited the strong performance in each of its four segments for the results.

The stock closed Tuesday at $11.20, up 85 cents, or 8.21%.

Thoratec Corporation (THOR: chart) said Tuesday that its second-quarter earnings will fall short of Wall Street’s expectations, on problems with Medicare and Medicaid reimbursement for its Destination ventricular assist device. The Pleasanton, California-based maker of artificial heart devices forecast a second-quarter profit, excluding items, of 2 cents a share, compared with analysts’ projections of a profit before items of 7 cents a share. Thoratec also said that it sees a net loss of 1 cent per share in the quarter.

Thoratec shares gained 37 cents on Tuesday to $14.42. The stock plummeted 17.82% to $11.85 in after-hours trading.

Murphy Oil Corporation (MUR: chart) of El Dorado, Arkansas, issued Tuesday its earnings guidance for the second quarter of fiscal 2004. The oil and gas company said that it sees second-quarter net income from continuing operations in the range of $1.70 to $1.80 per share. The company said the forecast excludes a gain from the sale of properties in western Canada. Analysts are looking for a second-quarter profit of 93 cents to $1.46 per share.